Monday, stocks in Asia closed nearly unchanged, in Europe declined slightly, but in the U.S. fell 0.8% on moderate volume. The VXO shot up 21% to close at 13.87. Precious metals fell 1% while their miners lost three times that in a broad-based selloff. The 10-Year U.S. Treasury Bond yield gained 1%, to close at 2.70.
Tuesday, the downdraft intensified for stocks — falling 1.4% in Asia, 0.8% in Europe, and 1.1% in the U.S. on high volume as investment giants joined together to start a new healthcare provider and Apple reported low sales of their newest iPhone. The VXO rose 5% to 14.54. The 10-Year U.S. Treasury Bond yield gained 1%, to close at 2.73.
Wednesday, stocks fell again in Asia 0.5% and in Europe 0.3% but closed little changed in the U.S. on high volume. The VXO fell 5% to close at 13.77 while precious metals gained 2% as the FOMC gave a hawkish report and economic outlook. Thursday, stocks fell 0.6% in Europe but closed little changed in Asia and the U.S. on strong volume. The 10-Year U.S. Treasury Bond yield rose 2%, to close at 2.77.
Friday was the big day. The declassified memo regarding the F.B.I. and the Justice Department was released. Stocks fell worldwide — in Asia 0.8%, in Europe 1.4%, and in the U.S. 2.2% on high volume. The VXO shot up 25% to close at 16.82. Even IBM’s manipulators could not keep the stock above the $160 mark at the close. The 10-Year U.S. Treasury Bond yield rose 3%, to close at 2.85 while precious metals fell 2% and their miners declined twice that amount. Cryptocurrencies continued their swoon. Bitcoin led the way with a 20% drop for the week.